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Hypocalcemic tetany
Direct Materials Price Variance
The difference between the actual cost of direct materials used in production and the expected (standard) cost of those materials.
Overhead
The ongoing business expenses not directly attributable to creating a product or service, such as rent, utilities, and administrative costs.
Standard Labor Hours
The set amount of time expected to be used to complete a specific task or manufacture a product under normal conditions.
Direct Materials Quantity Variance
The difference between the actual amount of direct materials used in production and the standard amount expected to be used, valued at the standard cost.
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